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Roth 401(k) vs. Roth IRA: What Is the Difference?

Patriot Software

Two common retirement plans for employees are individual retirement arrangement/account (IRA) plans and 401(k) plans. Maybe you are considering establishing a Roth, or post-tax contribution, retirement plan. What is the difference between Roth IRA […] READ MORE. There are a lot of retirement options to choose from.

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Introduction to 401(k)s for small businesses

Business Management Daily

Setting up a 401(k) for employees can be a daunting task for small business owners. 401(k)s allow employees to set aside a percentage of their salary to plan for their future retirement. 401(k)s allow employees to set aside a percentage of their salary to plan for their future retirement. What is a 401(k)?

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Congress passes SECURE 2.0 Act, making important changes to 401(k)s

Business Management Daily

Act of 2022 —90+ provisions focused on 401(k) and other retirement plans. Congress has chosen to pay for it by mandating that plans offering certain 401(k) features, like catch-up contributions, be made on an after-tax, Roth basis. 401(k) plans established after Dec. which was enacted in 2019.

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16+ types of employee benefits you should consider

Genesis HR Solutions

401(k) & 403(b) Retirement Plans. A 401(k) or a 403(b) is a retirement plan named for the section of the tax code that governs it. ( A 401(k) plan can be an important tool for a small business to attract and retain employees. Making sure payroll deductions are correct. eHealthinsurance.com ).

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Learn from payroll year-end mistakes or repeat them

Business Management Daily

Which means now is the perfect time to think about the impending payroll year-end season. Payroll ’s annual year-end trek crosses many corporate boundaries. Here are some key year-end payroll tasks: Balance and reconcile amounts in calendar quarters to each other and to W-2s, payroll reports, and W-3s. 3: Use the data.

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9 Nontaxable Employee Benefits for Maximizing Your Income and Workplace Satisfaction

Empuls

The premiums paid by employees for employer-sponsored health insurance are typically exempt from income and payroll taxes. Retirement benefits Retirement benefits, such as 401(k) plans and Individual Retirement Accounts (IRAs), offer employees the opportunity to save for their future while enjoying tax advantages.